KUALA LUMPUR: AllianceDBS Research is retaining its Buy call on KPJ HEALTHCARE but with a lower target price of RM1.10 compared with its previous target price of RM1.35 due to the Covid-19 pandemic.
It said on Monday the RM1.10 was after its earnings revisions and rolling forward its valuation base to FY21.
At RM1.10, this represents a valuation of 27 times FY21 earnings per share (EPS), which is in line with its historical mean valuation.
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